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>> president obama and representative boehner have announced and boehner's office confirmed they will meet at the white house today at 5:00 p.m. eastern right after -- right after the closing bell, bill. >> right after. >> the point is the house has said they are going away for a long weekend tomorrow, and here we have boehner -- >> wait, don't go yet. >> getting this meeting in at 5:00 p.m., and it's amazing the market came halfway back just on that announcement. not that we have details of a deal, not that we know that we're having an agreement. just the fact that they are meeting. >> actually i thought they would come off the loews much more. >> you did. >> cut it in half, but it stalled here. >> we need more detail. it is encouraging. >> yeah. >> that they are talking. i mean, as long as you've got them in the same room. now, you know, john boehner has said he's leaving tomorrow, come hell or high water. he's going back home to get red for christmas. he says, you know, there is a telephone. >> not leaving for a long weekend. >> you can negotiate over the telephone? >> can't do it.
>> president obama and representative boehner have announced and boehner's office confirmed they will meet at the white house today at 5:00 p.m. eastern right after -- right after the closing bell, bill. >> right after. >> the point is the house has said they are going away for a long weekend tomorrow, and here we have boehner -- >> wait, don't go yet. >> getting this meeting in at 5:00 p.m., and it's amazing the market came halfway back just on that announcement....
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Dec 6, 2012
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. >> well we've heard from just about everybody in town except for speaker boehner. scott it feels like we're getting some deal making behind the scenes and i'll tell you why it feels that way. we were told that yesterday speaker boehner and president obama held a phone call, it was said to be about 20, 28 minutes in length but neither side has leaked what happened on that phone call. the house republicans are not leaking, the white house just within the past hour said it's not going to tell reporters what was discussed, that's probably an encouraging sign that negotiations are taking place. last week we saw that they had a proposal and immediately house republicans leaked the white house proposal and then republicans went out of their way to say they were laughing at that proposal, now they're not leaking, that's probably a sign of some real deal making but nonetheless harry reid the senate democratic leader was on the floor within the past hour or so and he kept the pressure up on republicans. take a listen. >> the plan for the republicans to face reality, there's
. >> well we've heard from just about everybody in town except for speaker boehner. scott it feels like we're getting some deal making behind the scenes and i'll tell you why it feels that way. we were told that yesterday speaker boehner and president obama held a phone call, it was said to be about 20, 28 minutes in length but neither side has leaked what happened on that phone call. the house republicans are not leaking, the white house just within the past hour said it's not going to...
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Dec 5, 2012
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the republicans have offered substantial -- boehner has offered substantial tax increase, $800 billion, actually, but he believes it can be done by closing loopholes without raising the rates, which would be better for the economy. i don't believe we need to raise taxes. we can bring this government under control through spending reductions. certainly, if taxes are raised, they should be done in a way that's most beneficial or least damaging to the viability of our economy. >> yeah. i got to tell you, after listening to that interview, i feel pretty confident that we're going over the cliff. are we going to go over the cliff, senator? >> we should not go over the cliff. we should have been working on this all year, not waiting until the last minute. the reason we're not making progress, let me tell you -- and i've been consistent on this. they're bringing these numbers up in secret. if they were laid out in public so the american people knew just how much taxes they were increasing, just how little spending reductions -- or how much increases in spending. as a political mover, very eff
the republicans have offered substantial -- boehner has offered substantial tax increase, $800 billion, actually, but he believes it can be done by closing loopholes without raising the rates, which would be better for the economy. i don't believe we need to raise taxes. we can bring this government under control through spending reductions. certainly, if taxes are raised, they should be done in a way that's most beneficial or least damaging to the viability of our economy. >> yeah. i got...
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boehner and reid in washington. do you think that's having any impact on the type of people who buy your products? >> you know, i think any time when there's a lot of talk about what the future may hold for government, for taxation, for financing, that's going to give some people some trepidation about spending. if there's word about the fact that you are going to have higher taxes come the new year, won't have as much to spend, maybe you hold back a little bit. what we like about our business is, it's a relatively low barriers to entry. consumers can buy the luxury of our beauty for $17, $18, $25, $30. this is not a huge investment. and so we're finding a lot of consumers are finding their way into beauty because they don't want to spend $1,000, $2,000 or $3,000 on very luxurious, larger items like a handbag or a new car, for example. so beauty has its frequency shoppers. but that being said, overall, if the consumer is not certain she has the disposal income, perhaps she holds back a little bit. >> sir, one of my
boehner and reid in washington. do you think that's having any impact on the type of people who buy your products? >> you know, i think any time when there's a lot of talk about what the future may hold for government, for taxation, for financing, that's going to give some people some trepidation about spending. if there's word about the fact that you are going to have higher taxes come the new year, won't have as much to spend, maybe you hold back a little bit. what we like about our...
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boehner came out and said we should raise taxes. >> i think boehner is doing the best he can to prevent marginal tax rates from rising. i think that's a very noble cause after conservatives and republicans lost in the last election. i think boehner's done the exact right thing. >> i've heard you make the bold case for conservatism on this show. we should advocate for what worked with ronald reagan. guess what? our economy took off. we got 20 million jobs and youth unemployment dropped 43%. and revenues doubled. >> that's not the issue. >> yes, it is. >> that's not john boehner's issue. john boehner didn't lose the presidency, my friend. and don't forget that. and by the way, conservatives did not win the presidency and conservatives did not win the senate. it was a lousy year. and you have to deal with that. and let me add one thing. i am a flat tax supply sider and i worked for ronald reagan. reagan compromised. he compromised in 1982 over a lousy deal which he regretted. he compromised in 1983 over a very good social security fix. and then he compromised again in 1986 over a very good
boehner came out and said we should raise taxes. >> i think boehner is doing the best he can to prevent marginal tax rates from rising. i think that's a very noble cause after conservatives and republicans lost in the last election. i think boehner's done the exact right thing. >> i've heard you make the bold case for conservatism on this show. we should advocate for what worked with ronald reagan. guess what? our economy took off. we got 20 million jobs and youth unemployment...
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boehner. boehner that low? >> it's remarkable. there is some subjectivity that goes with this but i think that's very interesting. the other folks that you mentioned. bloomberg fascinates me. >> bloomberg more power than bainer? really? >> i don't know about more power but think about the interesting position that bloomberg's in. he's got a year left on this third term that he has figured out a way to have. he's a publisher. he's a 15th richest guy -- most powerful guy on our list, one of the richest men in the world. >> and a quick thought on ilan musk -- we've heard his name but he doesn't get a lot of attention. why is he in the top 70? >> when you think about the entrepreneurial ethos that forbes tries to represent, the people, places and companies that we try to describe an entrepreneurs in particular, here's a guy who founded paypal. here's a guy who's at the front of the tesla automobile. he's now moving cargo through space. filling the void that nasa has left. >> it's like watch what he does zblep's going to be the railroa
boehner. boehner that low? >> it's remarkable. there is some subjectivity that goes with this but i think that's very interesting. the other folks that you mentioned. bloomberg fascinates me. >> bloomberg more power than bainer? really? >> i don't know about more power but think about the interesting position that bloomberg's in. he's got a year left on this third term that he has figured out a way to have. he's a publisher. he's a 15th richest guy -- most powerful guy on our...
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house speaker boehner coming out earlier today and saying no progress has been made in the negotiations. our chief washington correspondent john harwood is here with the latest. >> reporter: we ended the week with a fairly perfect, simple, clear, elegant expression of the partisan differences in this fight. speaker boehner came out and gave a press conference where he essentially said president obama has done nothing to compromise with republicans. here's the speaker. >> four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there's been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow-walk our economy right to the edge of the fiscal cliff. >> reporter: not surprisingly, democratic house leader nancy pelosi had precisely the opposite explanation for what is behind this stalemate. she says republicans simply echoing the white house are going to have to buckle on the issue of the top rates. >> the only obstacle standing in the way of middle income ta
house speaker boehner coming out earlier today and saying no progress has been made in the negotiations. our chief washington correspondent john harwood is here with the latest. >> reporter: we ended the week with a fairly perfect, simple, clear, elegant expression of the partisan differences in this fight. speaker boehner came out and gave a press conference where he essentially said president obama has done nothing to compromise with republicans. here's the speaker. >> four days...
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boehner i think is trying to rise above partisanship and get a deal. i think he's been very valiant. but sit going to take a toll on the gop internally? >> larry, i was at a very prominent conservative meeting in washington today, and you know who showed up? a congressman from kansas. he was booted off of his committee earlier today and he was very angry talking to conservative activists. here's why conservatives are angry. as this fiscal cliff negotiations continues, they think boehner is trying to warn conservatives about going against any kind of deal he cuts with the white house. so as a warning, boehner is saying i'm going to boot you off your committee if you go against something i do. a lot of conservatives don't like it when he plays hardball. they're going to continue to fight back just like senator demint is doing right now. >> but he's also going to lose some votes on the moderate side. a couple dozen republican house members signed a bipartisan letter that says let's look at all kinds of tax rates, not just the deduction, but tax rates in r
boehner i think is trying to rise above partisanship and get a deal. i think he's been very valiant. but sit going to take a toll on the gop internally? >> larry, i was at a very prominent conservative meeting in washington today, and you know who showed up? a congressman from kansas. he was booted off of his committee earlier today and he was very angry talking to conservative activists. here's why conservatives are angry. as this fiscal cliff negotiations continues, they think boehner...
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more support for boehner now than anytime in his speaker ship. is that's setting up for -- >> but it is social media and twitter allows to you see these things. >> sausage factory into the front of the kitchen. >> exactly. >> geithner didn't use the word marginal rates had to go up, just said rates. >> rates are already going up. there will be a tax increase to people making more than 250 anyway because of the health care law. so the idea that somehow they will get a freebie is just crazy. >> california at 52%, new york and other places -- >> when you add up all the state and local taxes. hawaii is above 50, as well. >> hawaii is worth it, though. >> california is not bad either. >> unless you need to drive somewhere. right? and don't have a helicopter. >> there's a reason the president takes a helicopter anywhere. you can't drive in d.c. sdl those a >> boston in the city can get like that. last night i was thinking in my mother was still alive, cincinnati versus here, she would see like ten cars an and go oh, i can't believe people -- if she had
more support for boehner now than anytime in his speaker ship. is that's setting up for -- >> but it is social media and twitter allows to you see these things. >> sausage factory into the front of the kitchen. >> exactly. >> geithner didn't use the word marginal rates had to go up, just said rates. >> rates are already going up. there will be a tax increase to people making more than 250 anyway because of the health care law. so the idea that somehow they will get...
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boehner responded with a plan that largely sticks to his original offer a week ago. reports say the white house has told republicans it would include an overhaul of corporate taxes in any budget deal. that hasn't been done before. in an exclusive interview with barbara walters of abc news, president obama says he still expects a deal before the end of the year. >> i remain optimistic that there are enough people of goodwill in this town that recognize our economy will be much better off. american families will be much better off if we get this done. the most important thing we can do is make sure that middle-class taxes do not go up on january 1. and i'm pretty confident that republicans would not hold middle-class taxes hostage to try to protect tax cuts for high-income individuals. >> prediction -- are you going to be able to raise taxes, yes or no? >> oh -- taxes are going to go up one way or the other. >> they are? >> i think the key is to make sure that taxes go up on high-end individuals like you and me, barbara. we can afford it. >> you can see the rest of tha
boehner responded with a plan that largely sticks to his original offer a week ago. reports say the white house has told republicans it would include an overhaul of corporate taxes in any budget deal. that hasn't been done before. in an exclusive interview with barbara walters of abc news, president obama says he still expects a deal before the end of the year. >> i remain optimistic that there are enough people of goodwill in this town that recognize our economy will be much better off....
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boehner is demanding more details on spending cuts. the administration has made expensive proposals to reduce spending, but the republicans haven't offered specifics on revenue hikes. >>> today the federal reserve wraps up its two-day meeting with a decision at 12:30 eastern followed by updated economic projections from fomc members at 2:00 p.m. and ben bernanke's press briefing at quarter past. the fed is expected to announce a new round of bond purchases as its latest program, operation twist, is set to expire at the end of the month. cnbc will begin at 12:00 p.m. eastern. >>> joining us is stewart richardson, partner at rpmg. the press conference -- we'll hear a fresh round of stimulus from the fed. how significant would that be? >> in my mind it's not that significant. i think as optics, people think this is another addition to the stimulus. the fact is that the fed for months and months and months when they go out to purchase longer term treasuries, they're trying to reduce the supply of those in the market and effectively swap sh
boehner is demanding more details on spending cuts. the administration has made expensive proposals to reduce spending, but the republicans haven't offered specifics on revenue hikes. >>> today the federal reserve wraps up its two-day meeting with a decision at 12:30 eastern followed by updated economic projections from fomc members at 2:00 p.m. and ben bernanke's press briefing at quarter past. the fed is expected to announce a new round of bond purchases as its latest program,...
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earlier this afternoon, a key word from speaker boehner. the recent silence from his office and the administration breaking down. listen to this. >> i'm hopeful we can reach an agreement. this is a serious issue and there's a lot at stake. the american people sent us here to work together towards the best possible solution. that means cutting spending. now, the president doesn't agree with our approach, he's got an obligation to put forward a plan that can pass both chambers of the congress. >> joining us right now, republican senator from georgia, johnny isakson, good to have you on the program. thanks for joining us. john boehner saying he wants to see spending cut proposals on the table. where specifically would you like to see those cuts come from. >> first of all, entitlements are $2 out of $3 we spend, $2.7 trillion a year. they need to be reformed. over time you can save a lot of money without taking away what people have paid for in terms of social security and medicare. we have to cut discretionary spending. i will tell you discret
earlier this afternoon, a key word from speaker boehner. the recent silence from his office and the administration breaking down. listen to this. >> i'm hopeful we can reach an agreement. this is a serious issue and there's a lot at stake. the american people sent us here to work together towards the best possible solution. that means cutting spending. now, the president doesn't agree with our approach, he's got an obligation to put forward a plan that can pass both chambers of the...
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not boehner. and the president went back and tried to jam boehner, because he thought there was division in the ranks. so one of the challenges that boehner or mitch mcconnell has is you need to be one voice as the president's one voice but you have a lot of members. >> what about hedge funds? don't raise the rates, just make them pay the rates. make them pay ordinary income. i'm always surprised, you convert ordinary income rates to capital gains, that's not what people do. just pay ordinary, right? you agree to that. they don't have to raise the rates. >> did you readed article that harvard is the hedge fund that has the university on the side? >> i don't know. >> $27 billion hedge fund. >> you agree with me they ought to switch the rate with ordinary income. >> i'm not -- look, it's a tax increase but you can offset it by tax cuts elsewhere. you could do tax reform in such a way that long as it doesn't net money to the government. if the government sees additional cash they go, oh, and they dro
not boehner. and the president went back and tried to jam boehner, because he thought there was division in the ranks. so one of the challenges that boehner or mitch mcconnell has is you need to be one voice as the president's one voice but you have a lot of members. >> what about hedge funds? don't raise the rates, just make them pay the rates. make them pay ordinary income. i'm always surprised, you convert ordinary income rates to capital gains, that's not what people do. just pay...
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that after talking with house speaker john boehner over the weekend. their firps one on one in weeks. is that why republicans are saying they would swallow higher taxes for the right deal on spending cuts? we'll talk to tom cole who is making that case in just a few minutes. >>> bmw and mercedes are looking for the best selling luxury brand in the united states. wait until you hear what your money can get you these days. you're watching cnbc. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is q rea this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? >>> is the u.s. consumer in trouble? the front page on this morning's "wall street journal" says yes. but are holiday sales and shipping proving otherwise? courtney reag
that after talking with house speaker john boehner over the weekend. their firps one on one in weeks. is that why republicans are saying they would swallow higher taxes for the right deal on spending cuts? we'll talk to tom cole who is making that case in just a few minutes. >>> bmw and mercedes are looking for the best selling luxury brand in the united states. wait until you hear what your money can get you these days. you're watching cnbc. ...so as you can see, geico's customer...
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boehner coming up. let me tell you why. if you watched that -- and i know close to 1 billion people watched -- i couldn't help but think during the entire thing robin hood foundation, obviously if you know who robin hood foundation is, you know it's many of the major hedge funds, major players in the financial services. one of the greatest takeaways that i had walking out of that building, obviously the great entertainment was the following. when it was in the time of immediate need, it wasn't the government agencies. it wasn't fema. it wasn't the tax dollars going to the government to help people. it was the charities like robin hood that was immediately there. you saw it with the sanitation. you saw it with the first responders. and let me tell you what i thought about last night. i am sick and tired -- sick and tired of people like nancy pelosi and harry reid sitting here attacking the wealthy for more taxes. bring it on, they'll say. bring it on. but these are the most charitable people in the world. i'm not going to na
boehner coming up. let me tell you why. if you watched that -- and i know close to 1 billion people watched -- i couldn't help but think during the entire thing robin hood foundation, obviously if you know who robin hood foundation is, you know it's many of the major hedge funds, major players in the financial services. one of the greatest takeaways that i had walking out of that building, obviously the great entertainment was the following. when it was in the time of immediate need, it wasn't...
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speaker boehner is about to speak. here he is. >> when it comes to the fiscal cliff that's threatening our economy and our jobs, the white house has wasted another week. you know, eight days ago secretary geithner came here to offer a plan that had twice the tax hikes that the president campaigned on. it had more stimulus spending than it had in cuts. and an indefinite, infinite increase in the debt limit like forever. four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there's been no counteroffer from the white house. instead reports indicate that the president has adopted a deliberate strategy to slow-walk our economy right to the edge of the fiscal cliff. instead of reforming the tax code and cutting spending, the president wants to raise tax rates. but even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion-dollar deficits for as far as the eye can see. listen. washington's got a spending probl
speaker boehner is about to speak. here he is. >> when it comes to the fiscal cliff that's threatening our economy and our jobs, the white house has wasted another week. you know, eight days ago secretary geithner came here to offer a plan that had twice the tax hikes that the president campaigned on. it had more stimulus spending than it had in cuts. and an indefinite, infinite increase in the debt limit like forever. four days ago we offered a serious proposal based on testimony of...
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we just talked about it with john boehner. does that help or hurt? >> home run for exchange trade for two reasons. whatever happens on the fiscal cliff, whatever they get their act together to do, two things will happen. tax rates will go up on capital gains and dividend. etfs or more tax efficient, more people will follow into that place. i also think some people trapped in mutual funds because they have low tax basis will do tax gains harvesting, realize their gains, pay 15% and move that money finally into cheaper, more tax efficient and better profits etf has to offer. >> trader talk column, trader talk cnbc.com in a few moments. that's what's hot, etfs. back to you. >> we look forward to that very much. thanks, guys. gold market selling off a little bit. at the close, sharon epperson tracking the action at the nymex. moving into stocks and out of the metals. >> they are. we're seeing a little bit of weakness in the gold futures price. gold etfs held up steadily over the last several weebs as well as record levels, in fact. in term of the flat pr
we just talked about it with john boehner. does that help or hurt? >> home run for exchange trade for two reasons. whatever happens on the fiscal cliff, whatever they get their act together to do, two things will happen. tax rates will go up on capital gains and dividend. etfs or more tax efficient, more people will follow into that place. i also think some people trapped in mutual funds because they have low tax basis will do tax gains harvesting, realize their gains, pay 15% and move...
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john boehner is really the only republican power in town. so a lot of people think that he's going to have to move toward the president. right now, he's showing absolutely no signs of that. but public opinion is definitely in the president's side. >> the president seems to be counting on here that if no deal is reached, the gop will get the blame from voters. is that the right calculation to make? >> absolutely. polls show that republicans would overwhelmingly be blamed if the united states goes over the proverbial fiscal cliff. and that's why president obama has an advantage, because he's willing -- he says, this is what he and his advisers say, he's willing to send the nation off of the fiscal cliff, letting all income tax rates to jump, spending cuts to take hold, investment income rates to jump. he's willing to do that. he thinks republicans would get the political blame. republicans, on the other hand, note that listen, the president's going to have to have another term where he's dealing with what's likely to be a deep recession as a r
john boehner is really the only republican power in town. so a lot of people think that he's going to have to move toward the president. right now, he's showing absolutely no signs of that. but public opinion is definitely in the president's side. >> the president seems to be counting on here that if no deal is reached, the gop will get the blame from voters. is that the right calculation to make? >> absolutely. polls show that republicans would overwhelmingly be blamed if the...
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you have boehner come out, reid come out, cantor come out, and they're all somewhat measured, if not negative, on the result of the fiscal cliff. so the market's clearly building in a deal. if i were bernanke, here's what i'm thinking. i'm thinking, if i get the grand bargain, i don't have to do anything additional to what i'm doing now because the economy is going to explode fwr trom the pent-up corporate spending. if i wait, let them take care of it. that's unlikely, though. i think the fed is in a holding pattern and let the market bounce around without the upside gains. >> is that it, or are you just getting warmed up? >> let's go to murph. >> if you don't get anything from bernanke today, the market is going to sell off. if we see bernanke step away from the easing today, we're going to go a lot lower on the mark market. i don't think that's going to happen. i think you'll see him extend and see what happens with the fiscal cliff. >> what does the market want to hear from the fed today. jim is chief financial strategist for wells capital management. thanks for coming back. >> th
you have boehner come out, reid come out, cantor come out, and they're all somewhat measured, if not negative, on the result of the fiscal cliff. so the market's clearly building in a deal. if i were bernanke, here's what i'm thinking. i'm thinking, if i get the grand bargain, i don't have to do anything additional to what i'm doing now because the economy is going to explode fwr trom the pent-up corporate spending. if i wait, let them take care of it. that's unlikely, though. i think the fed...
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. >> that's going to be the question that boehner has to deal with. the president will have to deal with the far wings of his party. boehner started doing it. did you see they removed two tea party members from the budget committee? >> i don't want to raise taxes to fund 25% of gdp. >> and actually, the american taxpayers are being told to pay their fair share. they want to see real entitlement reform as well. but you have to deal with the issue on the table. i mean, the spending right now is a percentage of gdp is 24%. it's projected to go substantially higher. do you know that medicare and medicaid didn't exist 50 years ago and they're now a quarter of the federal budget? >> i know. it was supposed to be supplemental. david walker was on the other day talking about obama care which is supposed to save us a trillion dollars and the actual cost, what it added the our entitlement is 12 trillion. just that we did in the last two years. or whenever it was. >> but in terms of where we are now in this negotiation, i believe that both sides in the final ana
. >> that's going to be the question that boehner has to deal with. the president will have to deal with the far wings of his party. boehner started doing it. did you see they removed two tea party members from the budget committee? >> i don't want to raise taxes to fund 25% of gdp. >> and actually, the american taxpayers are being told to pay their fair share. they want to see real entitlement reform as well. but you have to deal with the issue on the table. i mean, the...
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we are told that president obama and speaker john boehner on the republican side of the capitol had a conference call yesterday about 20, 28 minutes in length. we don't know what was said. that's probably a good sign they are not leaking the contents of that call. that's a sign that there is some negotiation going on. something is happening behind the scenes but we just don't know what it is right now. back to you. >> eamon javers, thank you very much. >>> what can be done to break the stalemate in washington? representative jack kingston is a republican from georgia, member of the house appropriations committee. welcome, congressman. good to have you with us. >> thank you, tyler. >> we had the images yesterday of congress leaving for a long weekend. i have to say that it struck an awful lot of us as very poor sort of pr, very bad optics, if you want to use that term. you're still there in washington. why? and what do you think about the fact that congress went home? >> well, i'm actually doing some committee work but i will say this, that this debate is both inside and outside of the
we are told that president obama and speaker john boehner on the republican side of the capitol had a conference call yesterday about 20, 28 minutes in length. we don't know what was said. that's probably a good sign they are not leaking the contents of that call. that's a sign that there is some negotiation going on. something is happening behind the scenes but we just don't know what it is right now. back to you. >> eamon javers, thank you very much. >>> what can be done to...
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questions, taking the goldbarb rule into effect, one having to do with the cpi, a lot of debate about the boehner plan about the cpi. as an economist is there a logic going to that? do you think it's a move that should be done separate from the politics of it, and, again, with the economists at the labor market, you talked about the importance, not looking at 6.5% threshold but the broader conditions, a big debate, steve liesman's nemesis talks a lot about people being beamed to mars in. your mind what is happening to the job market? are we creating jobs? is that why it's coming down, or is it because people -- the degree of discouraged workers? what's your sense of how quickly it's fallen because of new employment? >> so on the first question the chain cpi versus the fixed weight cpi is a technical issue. the change cpi is better for most economists because it allows for changes in the mix of goods and services that people actually consume more effectively. however, whether that's more appropriate for say social security indexing or not, i think that's ultimately a political decision. i suppose
questions, taking the goldbarb rule into effect, one having to do with the cpi, a lot of debate about the boehner plan about the cpi. as an economist is there a logic going to that? do you think it's a move that should be done separate from the politics of it, and, again, with the economists at the labor market, you talked about the importance, not looking at 6.5% threshold but the broader conditions, a big debate, steve liesman's nemesis talks a lot about people being beamed to mars in. your...
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but that not true among the rank and file and therefore john boehner and leadership haven't been able to take that position and that is kind of stuck right now. >> joe, it is brian. i know you talk to those folks off the record as well. ip get it. a this point the president's plan can only be viewed as punitive. the money raised is about a fourth of what medicare alone wastes through fraudulent spending in a year. everyone understanding basic math knows it won't make a difference for anything. it is already spent with the post office and fha bailout. does the white house privately acknowledge this point? do they understand how big the deficit is verse thus small amount of money? >> of course they understand it. i don't accept what you just said, ryan. >> you can't debate math. >> well, you called it punitive. and i -- >> i i'm just wondering if that's what it is at this point? >> i don't think it is. look, the white house negotiated a deal with republicans last year to cut a trillion dollars out of discretionary spending. they are looking for a $4 trillion deal. that's one-fourth of t
but that not true among the rank and file and therefore john boehner and leadership haven't been able to take that position and that is kind of stuck right now. >> joe, it is brian. i know you talk to those folks off the record as well. ip get it. a this point the president's plan can only be viewed as punitive. the money raised is about a fourth of what medicare alone wastes through fraudulent spending in a year. everyone understanding basic math knows it won't make a difference for...
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. >>> budget talks have resumed between the staff of john boehner and the white house. "wall street journal" says this creates a ne crea breaks a near week long silence as the fiscal cliff looms. they promise to renew the negotiations. and are you earning $250,000, worried about having to pay more tax? you may be able to earn up to $300,000 and not have to hand over more cash to the irs. head to cnbc.com for more. and victor hugo's classic thofl about life, love and hitting the big screen. carolyn went to speak to the stars of the film to find out why the classic story still resonates. ♪ >> i think human truths are human truths and there's also a certain cycle to the world. >> just a look at the world and humanity, and we'll always be moved by a passion for fighting for what we believe in, we've always been moved by love. >> the power of redemption are all themes that transcend time. >> les mis has been performed 10,000 times and seen by 16 people worldwide. and now it's a major motion picture featuring hugh jackman and anne hathaway. so what does it take to transform
. >>> budget talks have resumed between the staff of john boehner and the white house. "wall street journal" says this creates a ne crea breaks a near week long silence as the fiscal cliff looms. they promise to renew the negotiations. and are you earning $250,000, worried about having to pay more tax? you may be able to earn up to $300,000 and not have to hand over more cash to the irs. head to cnbc.com for more. and victor hugo's classic thofl about life, love and hitting...
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but we vice presidehaven't seen meeting we want to see, the president and speaker boehner. we're seeing that now. >>> meanwhile, toronto dominion down today. it seems investors are worried about the company's higher expense and a slow down in mortgage growth. let's talking td bank. joining me now in a cnbc exclusi exclusive, the ceo ed clark. atlanta, georgi thanks for joining us. what do you think is most concerning here? how was the quarter? >> actually, we were very pleased with the quarter. really pleased with the year. we went into the year saying we were with going to have to work hard to get 7% earnings growth. we ended up with 8 and 10% overall growth. it's really actually, you know, we faced a lot of head winds this year. lots of things going on. so frankly, we're very pleased with the year. >> of course, you announced this acquisiti acquisition. why do this deal now? what was so important in terms of contributing to business? >> yeah, so, you know, we have signaled to the market for some time what we want to do. this fit absolutely perfect. it's one of these great
but we vice presidehaven't seen meeting we want to see, the president and speaker boehner. we're seeing that now. >>> meanwhile, toronto dominion down today. it seems investors are worried about the company's higher expense and a slow down in mortgage growth. let's talking td bank. joining me now in a cnbc exclusi exclusive, the ceo ed clark. atlanta, georgi thanks for joining us. what do you think is most concerning here? how was the quarter? >> actually, we were very pleased...
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you mentioned boehner speaking at the top of the hour. in the past few moments the obama 2012 campaign staff has tweeted the following. if your taxes go up, republicans will have made a conscious choice to let that happen. we have no way of knowing if this is somehow related to what the speaker may say in 20 minutes' time. might just be yet another echo of an existing talking point. that's going to be one more tea leaf to read in the next half hour. >>> when we come back, delta air lines buying a 49% stake in virgin atlantic today. we'll talk to the ceo about the deal and what it means for the airline's future after the break. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to geico sure are happy. how happy are they jimmy? happier than antelope with night-vision goggles. nice! get happy. get geico
you mentioned boehner speaking at the top of the hour. in the past few moments the obama 2012 campaign staff has tweeted the following. if your taxes go up, republicans will have made a conscious choice to let that happen. we have no way of knowing if this is somehow related to what the speaker may say in 20 minutes' time. might just be yet another echo of an existing talking point. that's going to be one more tea leaf to read in the next half hour. >>> when we come back, delta air...
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the question is going to be what does the white house give john boehner, offer john boehner in terms of entitlement cuts that he can use to bring along his caucus? it's pretty clear from the cracks in republican ranks, becky, that republicans are going to give ground on tax rates for some group of wealthier americans, maybe half million dollar incomes, maybe million dollar incomes. but boehner to the speaker to bring along his caucus has to say here are the spending concessions that i want and i think that's what this set of conversations is about. >> john, it was interesting to hear it from senator corker saying, yeah, we should hold the fight on spending. you about he did it on the assumption that you're going to have this debt ceiling crisis that comes up again and these concessions that come up in i guess february. the president in his initial offer laid out something that he had to say the debt ceiling would be part of that, too. would he have back down and say we could have this conversation again in six weeks? >> that's a really hard issue. he said in the same definitive rates
the question is going to be what does the white house give john boehner, offer john boehner in terms of entitlement cuts that he can use to bring along his caucus? it's pretty clear from the cracks in republican ranks, becky, that republicans are going to give ground on tax rates for some group of wealthier americans, maybe half million dollar incomes, maybe million dollar incomes. but boehner to the speaker to bring along his caucus has to say here are the spending concessions that i want and...
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speaker john boehner is pushing the president to offer spending cuts. so with 20 days to grow, is this likely? am i going to be proven right or whong? larry, we are going to avoid the fiscal cliff resection. the white house is acting with impunity right now. and the white house is so far said look, we want to continue talking about one quarter of the president's own architecture. the president said there was a three to one ratio between savings and cuts and revenue. but they have been silent on this. >> little bit of breaking news. >> wow, the studio is shaking. mr. bhoener is at $800 million. no new information on then ti e ti tiltment. i'm suggesting. it is a game of chicken. neither party can afford this kind of recession. after what we've been through we can't take it. if that meanstending the tax cuts so be it. let me accept your premise. but i have to pile on more. something that is worse is a debt crisis. if you have a white house that is committed from going from $16 trillion in debt which is where the obama administration would lead us. what do
speaker john boehner is pushing the president to offer spending cuts. so with 20 days to grow, is this likely? am i going to be proven right or whong? larry, we are going to avoid the fiscal cliff resection. the white house is acting with impunity right now. and the white house is so far said look, we want to continue talking about one quarter of the president's own architecture. the president said there was a three to one ratio between savings and cuts and revenue. but they have been silent on...
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speaker boehner commenting earlier this hour about the fiscal cliff negotiations. let's listen. >> this plan does not fulfill his promise to bring a balanced approach to solving this problem. it's mainly tax hikes. and as planned, does not begin to solve our debt crisis. it actually increases spending. >> joined now by an incoming member of the senate, jeff flake, representing arizona's sixth district. good morning. glad to have you. >> thanks for having me on. >> awfully tough to get a read this morning. a lot of the public commentary has been critical, as you know. but we are seeing signs that at least the talks are progressing. we've got counteroffers going back and forth. are you more or less optimistic than you were, say, last week? >> i've gone back and forth week to week. thinking we'll get a deal. then we won't. today, i think it's probably just better than 50/50 that we get a deal. it likely won't be until after christmas. >> yeah, the calendar -- that seems to be the issue right now. you're running out of time to get it done this year. >> it looks like it
speaker boehner commenting earlier this hour about the fiscal cliff negotiations. let's listen. >> this plan does not fulfill his promise to bring a balanced approach to solving this problem. it's mainly tax hikes. and as planned, does not begin to solve our debt crisis. it actually increases spending. >> joined now by an incoming member of the senate, jeff flake, representing arizona's sixth district. good morning. glad to have you. >> thanks for having me on. >>...
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comments are very interesting around boehner taking those actions around tea party members in the house. that's substantial. i think at the end of the day it will all come down to means testing. means testing on dividends, means testing on medicare, means testing on social security. that's the way they come to agreement. if you add up all the means testing moves on social security an medicare, that gets but $800 million right there. >> what's the cliff doing to gold? gold's been obviously an interesting trade over the last several sessions. it's been down $30 or so a couple different times. cliff related or something else going on? >> i think it's definitely more economically related. if you look over the last year, take morgan stanley five-year cds versus gold. every time we've had a rise in systemic risk, gold has fallen. over the last month or so, the financial cds, big banks of the united states, that's improved. so there's less global systemic risk, less lehman like risk. but gold has been acting poorly along with oil. so a lot of the economically sensitive under -- indicators are
comments are very interesting around boehner taking those actions around tea party members in the house. that's substantial. i think at the end of the day it will all come down to means testing. means testing on dividends, means testing on medicare, means testing on social security. that's the way they come to agreement. if you add up all the means testing moves on social security an medicare, that gets but $800 million right there. >> what's the cliff doing to gold? gold's been obviously...
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finally the treasury secretary said the proposal from speaker boehner did represent some progress. >> i think we're making a little bit of progress. i mean, we're still some distance apart. they're clearly moving. they're trying to figure out how to move further. you've seen them acknowledge they're prepared to do $800 billion in higher taxes on part of the american economy. that's part of a balanced framework. that's definitely some progress. what we need to have them acknowledge is that the rates go up and if they're willing to accept that and commit to that as an agreement, then we think we can do something really good for the economy. >> what you have here is really the administration laying out the parameters of getting a deal done. it's going to be tax hikes on the wealthiest 2% going back to the bush tax cuts, although there was a little play in the idea. it didn't have to be 39.6%. he didn't say that had to happen, but he says he thinks that's the best way for a deal to get done to raise the money they need. and a deal on the debt ceiling. so, guys, i'm not sure where we are o
finally the treasury secretary said the proposal from speaker boehner did represent some progress. >> i think we're making a little bit of progress. i mean, we're still some distance apart. they're clearly moving. they're trying to figure out how to move further. you've seen them acknowledge they're prepared to do $800 billion in higher taxes on part of the american economy. that's part of a balanced framework. that's definitely some progress. what we need to have them acknowledge is that...
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for you, it's the house and boehner need to rise above. for me, it's everybody needs to rise. it's not a partisan thing. it's a let's do this. >> what about marc andreessen? let's not rise above anything. >> he's like one of the only people. we've got all this -- >> okay. >> we gave you one. >> there's a sink below caucus. >> here it is. you want me to tie my tie like you? >> put it on your tie. it's like a rorschach. it can mean anything to you. we just want to get this done. >> my styist would not be happy with this look. >> your stylist has got a lot of work to do. that's not your problem right there. oil prices are hanging around $86 a barrel while gold prices are tumbling following the fed delayed decision to push ahead with another round of stimulus measures. guy wolf, let's look at the trading block here. different markets and see. guy wolf is macro strategist at marex speculation and jim moor yo is on constantly on cnbc. unless there's more than one of him. joining from the cme. as i said, a cnbc contributocon. guy, i'll start with you. i just referenced and we had jas
for you, it's the house and boehner need to rise above. for me, it's everybody needs to rise. it's not a partisan thing. it's a let's do this. >> what about marc andreessen? let's not rise above anything. >> he's like one of the only people. we've got all this -- >> okay. >> we gave you one. >> there's a sink below caucus. >> here it is. you want me to tie my tie like you? >> put it on your tie. it's like a rorschach. it can mean anything to you. we...
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so when boehner comes out and gives his talk right after the election -- >> but honestly, the administration has criticized the republicans because there are no specifics in the spending cuts. >> come on, look. the erskine bowles language -- you know how this works. house republicans are will -- >> give me one. >> i won't play that game and here's why. house republicans -- house republicans are willing to sit . house republicans are willing to sit down. they're not any more anxious to deal with the cuts and pass the cuts than anybody else is but we demonstrated through the ryan budget, we did it once, we did it twice -- >> i'll give you that point. i wish everybody would stop talking about this in public and get behind closed doors and actually make this happen. i can't believe the amount of tough that is talking, the tough talk, we'll go over the cliff, we'll go over the cliff. >> let me ask you a point. it's a fiscal speed bump a $600 billion tax we need. the real thing we're headed for is the long-term progress we have to make. i'm very concerned the atmosphere is very poisoned the $600 b
so when boehner comes out and gives his talk right after the election -- >> but honestly, the administration has criticized the republicans because there are no specifics in the spending cuts. >> come on, look. the erskine bowles language -- you know how this works. house republicans are will -- >> give me one. >> i won't play that game and here's why. house republicans -- house republicans are willing to sit . house republicans are willing to sit down. they're not any...
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when it comes to higher taxes, you seem to disagree with house speaker boehner when he says raising taxes on the highest earners will hurt jobs. can you elaborate on that? >> i think what the speaker is saying quite correctly is you don't want to increase taxes on the job creators. the problem here is the 1986 act that equalized corporate and personal rates. so the most important thing is to have an internationally competitive corporate rate of 25% and a territorial tax system and then individuals who have been filing their businesses as s-corporations or pass-through corporations can incorporate and get that lower rate. they can negotiate on the individual rates. >> so you don't think the ordinary income, then, the 39.6% that we're talking about, in that case, would apply to small business. they would fall under the corporate tax rate. >> yes, exactly. people forget that until 1986, corporate and individual rates were separate. a big part of the '86 act was to equalize them. there's a big difference between 2012 and 1986. only 17% of our economy was related to trade in '86. last year in
when it comes to higher taxes, you seem to disagree with house speaker boehner when he says raising taxes on the highest earners will hurt jobs. can you elaborate on that? >> i think what the speaker is saying quite correctly is you don't want to increase taxes on the job creators. the problem here is the 1986 act that equalized corporate and personal rates. so the most important thing is to have an internationally competitive corporate rate of 25% and a territorial tax system and then...
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two days after the election, boehner came up with a tax revenue plan. very controversial in his party. he said, let's cap deductions and loopholes and leave the race alone because that help growth. that was $800 billion. it shocked a lot of republicans. and he got nothing. he got, you know, nothing from obama. and i think that started the bad blood. and i think the president -- >> good point. they both got to learn the art of negotiation. >> we haven't heard from democrats in the senate. i'm going to guarantee you that the democrats in the senate are going to be split on this business of who's rich and what the right tax rates are going to be. >> i have to leave it there, chaps. nick, larry, thank you both much, indeed. >>> coming up next, kerry kennedy joins me about fame, politics and most important of all, taylor swift. like a lot of things, trying to find a better job can be frustrating. so at university of phoenix we're working with a growing list of almost two thousand corporate partners - companies like microsoft, american red cross and adobe - t
two days after the election, boehner came up with a tax revenue plan. very controversial in his party. he said, let's cap deductions and loopholes and leave the race alone because that help growth. that was $800 billion. it shocked a lot of republicans. and he got nothing. he got, you know, nothing from obama. and i think that started the bad blood. and i think the president -- >> good point. they both got to learn the art of negotiation. >> we haven't heard from democrats in the...
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the president and the house speaker john boehner finally spoke yesterday by phone. they have both agreed to keep the details of the discussion under wraps. they're both standing firm on the tax hike, their positions on the tax hikes for the top 2%. listen. >> the revenues we're putting on the table are going to come from, guess who? the rich. >> once republicans acknowledge that rates are going up for top earners, we believe that an agreement is very achievable. >> kate balduan is in washington, d.c., this morning. so that's kind of a depressing thing, when just the advent of a phone conversation between the two top dealmakers is the headline, isn't it? >> i could not agree with you more. the fact that they spoke, but the fact that there's no progress, and that's a headline. i mean, if we want to take anything from it, any significance, it's the first time they've talked in a week. take that what you will. it's almost like hope springs eternal, but we are a long way from a deal still. neither side, as you said is giving on their basic position. president obama conti
the president and the house speaker john boehner finally spoke yesterday by phone. they have both agreed to keep the details of the discussion under wraps. they're both standing firm on the tax hike, their positions on the tax hikes for the top 2%. listen. >> the revenues we're putting on the table are going to come from, guess who? the rich. >> once republicans acknowledge that rates are going up for top earners, we believe that an agreement is very achievable. >> kate...
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for what it's worth, president obama and house speaker boehner are talking. they had a nice telephone conversation. that's terrific. the first time in a week but apparently that's the headline. that's the editorial body. not much came out of it that we know of. sources say no real breakthrough. no formal negotiations. sessions are not scheduled. no back channel discussions taking place that anybody knows about at this time and as we wait for the white house briefing to begin, let's bring in wolf blitzer on this topic. there are a couple of polls that are very telling about how americans feel about congress and the president are behaving when it comes to the fiscal cliff. let me read some of these numbers for you. should obama compromise to get things done. 72% say yes. 22% say no. should the gop compromise to get things done. and take a look. 72% say yes. my question for you, wolf, i'm not sure you'll have the answer but perhaps you'll have guidance. for those democrats who say the president has a mandate because voters voted him into office while he campaign
for what it's worth, president obama and house speaker boehner are talking. they had a nice telephone conversation. that's terrific. the first time in a week but apparently that's the headline. that's the editorial body. not much came out of it that we know of. sources say no real breakthrough. no formal negotiations. sessions are not scheduled. no back channel discussions taking place that anybody knows about at this time and as we wait for the white house briefing to begin, let's bring in...
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did boehner's remarks make the difference? >> good. look, i think it's great. we cannot reach a deal if you are posturing and negotiating through press conferences. they need so sit in a room, they need to look at each other, they need to talk constructive debate, and they need to move this ball forward. i think what happened today is a very good sign. americans should be encouraged. it's a good thing. when our congressional leadership and our president are actually capable of meeting and talking about the difficult issues that face this country. what a refreshing and new idea. >> when you hear people like -- so you hear members of the gop, anna and lz, saxby chambliss, corker, they're all saying, we're willing to do this, but the messaging you hear on television is quite different, than what is actually being said behind closed doors, you make a very good point, anna. lz, do you think they're going to get something done with face-to-face talks and do you agree there seems to be competing messaging going on here? >> you know, they have to do the posturing in or
did boehner's remarks make the difference? >> good. look, i think it's great. we cannot reach a deal if you are posturing and negotiating through press conferences. they need so sit in a room, they need to look at each other, they need to talk constructive debate, and they need to move this ball forward. i think what happened today is a very good sign. americans should be encouraged. it's a good thing. when our congressional leadership and our president are actually capable of meeting and...
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boehner's trying to mitigate that mess. i wish him luck. something's going to f to have to give. >> from everything i've heard is that we are realistically, there's two options for country. one, go over the cliff. the other, extend the bush tax cuts for the 98% of americans. everyone who makes under $200,000 a year if they're single. those seem to be the two choices. between those, which do you pick? >> but, if we do that and raise the taxes on those small businesses we were just talking about, according to the congressional budget office, that's going to be about 200,000 american families are going to be out of work next year and that's the low estimate. young is estimating about 700,000 more unemployed. that's a lot of hurt for the middle class, so this is a battle for the middle class even when we're talk iing about that upper bracket because of the enormous impact that has on small business job creators. >> okay. i mean, aside from that argument though, i'm really trying to just get at the process here. it seems that there isn't that mu
boehner's trying to mitigate that mess. i wish him luck. something's going to f to have to give. >> from everything i've heard is that we are realistically, there's two options for country. one, go over the cliff. the other, extend the bush tax cuts for the 98% of americans. everyone who makes under $200,000 a year if they're single. those seem to be the two choices. between those, which do you pick? >> but, if we do that and raise the taxes on those small businesses we were just...
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. >> john boehner made a point at expressing dismay the president hasn't responded two days after the republicans sent him a fiscal cliff counteroffer. >> if the president doesn't agree with our proposal and our outline, i think he's got an obligation to send one to the congress. and a plan that can pass both chambers of congress. >> by trying to keep gop frustration on the president, boehner appears to be keeping conservative lawmakers off his own back for now. >> what's mood inside the conference. >> very united, very supportive with the speaker. >> multiple sources tell cnn in a private meeting with house republicans, boehner got no flow back for producing $800 billion in tax revenue, despite backlash from conservative groups outside congress. >> any complaints about this new revenue? >> i didn't hear anything. >> the speaker has full support of the conference to move forward and get something done for the american people. >> so far, rank and time republicans are allowing boehner to play out this showdown, trying to look reasonable while the president is intransigent. especially si
. >> john boehner made a point at expressing dismay the president hasn't responded two days after the republicans sent him a fiscal cliff counteroffer. >> if the president doesn't agree with our proposal and our outline, i think he's got an obligation to send one to the congress. and a plan that can pass both chambers of congress. >> by trying to keep gop frustration on the president, boehner appears to be keeping conservative lawmakers off his own back for now. >>...
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if john boehner says, look, mr. president, if you're going to force us to take the tax rates up, that's something we don't want to do, we'll go to 800, but that's it. we're not going to go beyond that, and you can't expect anything from us on a grand bargain beyond 800. that would really reduce the size of any kind of grand bargain. so in some ways, don, what's at stake here is whether they can craft a deal that's win/win. that each side can walk away from something in the short term saying we're encouraged. this gives us greater reason to go on and engage in the grand bargain next year. >> okay. you know, as republicans start to talk about maybe giving, you know, something on this tax hike for the wealthy, is this a white flag? i'm sure some will see it as a waving of a white flag, no? >> there will be a lot of democrats who think it's a white flag and they will say, mr. president, this is gl what he said. you hang tough with those guys and in the end they will cave and there will be some justification for that. ag
if john boehner says, look, mr. president, if you're going to force us to take the tax rates up, that's something we don't want to do, we'll go to 800, but that's it. we're not going to go beyond that, and you can't expect anything from us on a grand bargain beyond 800. that would really reduce the size of any kind of grand bargain. so in some ways, don, what's at stake here is whether they can craft a deal that's win/win. that each side can walk away from something in the short term saying...
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even though president obama and john boehner chatted by phone, there's no deal. republicans are not amused. >> incredibly many top democrats including the president seem perfectly happy to go off the cliff. that's why the president has been more interested in campaign rallies than actually negotiating a deal. >> many americans don't have much hope the two sides will make a deal and have moved to plan b. a retired teacher in utah has put off plans to get a new car. brian chandler, a data manager in atlanta is delaying buying a house despite needing space for a second kid due any day now and several families are shrinking the gift pile beneath the christmas tree this year. how about you? are you prepared if the nation goes off the fiscal cliff? facebook.com/carolcnn. facebook.com/carolcnn. your responses later this hour. >>> it's going to take massive amount of money to help the northeast recover from sandy. some $36 billion in new jersey alone. and now it's governor chris christie pushing the federal government to pick up 100% of that cost. if you are one of the m
even though president obama and john boehner chatted by phone, there's no deal. republicans are not amused. >> incredibly many top democrats including the president seem perfectly happy to go off the cliff. that's why the president has been more interested in campaign rallies than actually negotiating a deal. >> many americans don't have much hope the two sides will make a deal and have moved to plan b. a retired teacher in utah has put off plans to get a new car. brian chandler, a...
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these negotiations are between two men, house speaker john boehner and the president. and once those two men agree, then they will take it to their folks. >> all right. kate balduan, live in washington. thank you. >> thanks, guys. >>> all right, recreational pot is now legal in washington state under a new law which took effect at midnight. adults can possess up to an ounce of marijuana legally. it's still against the law to grow pot or to sell it. but those celebrating the new normal are accentuating the positive. >> it's amazing. i'm not a criminal anymore. i can't go to jail for small amounts of marijuana, you know? it's -- i'm free to be free. >> the new law doesn't allow smoking in public places, just like alcohol, but police in seattle and across the state made an exception for overnight celebrations to ring in this new law. >>> so it's another public relations problem for penn state. the school's kai omega sorority is under investigation for stereotype i stereotyping latinos. pictures showed the sorority members in somberos with fake mustaches with signs that sa
these negotiations are between two men, house speaker john boehner and the president. and once those two men agree, then they will take it to their folks. >> all right. kate balduan, live in washington. thank you. >> thanks, guys. >>> all right, recreational pot is now legal in washington state under a new law which took effect at midnight. adults can possess up to an ounce of marijuana legally. it's still against the law to grow pot or to sell it. but those celebrating the...
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>> i'm not with boehner. this government doesn't need anymore money. this country needs less government. we're going to have historic levels of revenue to the government this year. >> everyone's taxes are going up at the end of the year if there's no deal. >> we have already offered to extend current tax rates. that's what we should have done six months ago until we could come to some agreement, some compromise on tax reform. >> when you say compromise, where are you ready to compromise as far as taxes are concerned? >> how we go about tax reform, there's a lot of room to work together to lower the rates. >> give me an example? >> i'm not sure where the democrats are because they have not offered a plan. >> their plan is to keep the bush tax rates from 2001, 2003 forever. make them permanent. top 2% let them go from 35% to 39.6%. >> it's incredible we're even talking about it because it doesn't solve the problem. >> it's a beginning. >> it runs the government for five or six days. >> but it's a beginning. a billion here, a billion there winds up being
>> i'm not with boehner. this government doesn't need anymore money. this country needs less government. we're going to have historic levels of revenue to the government this year. >> everyone's taxes are going up at the end of the year if there's no deal. >> we have already offered to extend current tax rates. that's what we should have done six months ago until we could come to some agreement, some compromise on tax reform. >> when you say compromise, where are you...
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after the meeting, spokesman for both boehner and the president issued identical statements. that's nice. simply saying the line of communication remain open. that is promising according to former white house chief of staff erskine bowles. >> they've started to tango now and anytime you've got two guys tangoing. you've got a chance to get it done. >> how are the warnings affecting you? the american consumer. in the last few weeks, we have seen record shopping and black friday sales. we've also seen jobs numbers that are up. and today, fedex is expecting its busiest day ever. shipping about 19 million pa packages. that is about 20 packages per second. and loads of jet fuel. christine romans joining me now with more. those sound like great indicators. you're the trend lady. do the trends look like they're going to continue despite this horror show of the fiscal cliff? >> there's a bunch of things going for consumers. you named some, but you've also got the stock market. job growth. rising home values. you've been seeing home values tick up slowly, but surely over the last few m
after the meeting, spokesman for both boehner and the president issued identical statements. that's nice. simply saying the line of communication remain open. that is promising according to former white house chief of staff erskine bowles. >> they've started to tango now and anytime you've got two guys tangoing. you've got a chance to get it done. >> how are the warnings affecting you? the american consumer. in the last few weeks, we have seen record shopping and black friday sales....
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the president meeting face to face with speaker boehner yesterday. and talking to our chief white house correspondent basically the status of those discussions is sitting at a stalemate. back in a moment. tdd#: 1-800-345-2550 when i'm trading, i'm so into it, tdd#: 1-800-345-2550 hours can go by before i realize tdd#: 1-800-345-2550 that i haven't even looked away from my screen. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 that kind of focus... tdd#: 1-800-345-2550 that's what i have when i trade. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 ...helps me keep an eye on what's really important to me. tdd#: 1-800-345-2550 it's packed with tools that help me work my strategies, tdd#: 1-800-345-2550 spot patterns and find opportunities more easily. tdd#: 1-800-345-2550 then, when i'm ready... act decisively. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 with the exact same tools, the exact same way. tdd#: 1-800-345-25
the president meeting face to face with speaker boehner yesterday. and talking to our chief white house correspondent basically the status of those discussions is sitting at a stalemate. back in a moment. tdd#: 1-800-345-2550 when i'm trading, i'm so into it, tdd#: 1-800-345-2550 hours can go by before i realize tdd#: 1-800-345-2550 that i haven't even looked away from my screen. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 that kind of focus... tdd#: 1-800-345-2550 that's what i have when i...
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but late today speaker boehner and president obama did speak to one another on the phone. now, this is an important development because it's the first time they've talked in a week about the fiscal cliff. i am told, though, that there was no real progress in negotiations. in this sense there was no breakthrough on that central point of tax rates. as you know, president obama insists there is no deal unless the gop agrees to raise rates on the top 2% of earners. the gop says that's a nonstarter. and the two men have not moved from that basic position. now, all of this comes at the same time treasury secretary geithner also said for the first time the administration would be willing to go over the fiscal cliff if the gop does not agree to raise those rates. this was treasury secretary geithner earlier today on cnbc. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. remember, it's only 2%. all those americans, too, get a tax cut on the
but late today speaker boehner and president obama did speak to one another on the phone. now, this is an important development because it's the first time they've talked in a week about the fiscal cliff. i am told, though, that there was no real progress in negotiations. in this sense there was no breakthrough on that central point of tax rates. as you know, president obama insists there is no deal unless the gop agrees to raise rates on the top 2% of earners. the gop says that's a nonstarter....